KraneShares Asia Correlations

KHYB Etf

USD 24.47 0.42 1.69%

The current 90-days correlation between KraneShares Asia Pacific and SPDR Bloomberg International is -0.15 (i.e., Good diversification). The correlation of KraneShares Asia is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

KraneShares Asia Correlation With Market

Significant diversification

The correlation between KraneShares Asia Pacific and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding KraneShares Asia Pacific and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in KraneShares Asia Pacific. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with KraneShares Etf

0.61	HYEM	VanEck Emerging Markets	Pair Corr
0.71	NVDL	GraniteShares 15x Long	Pair Corr
0.71	NVDX	T Rex 2X	Pair Corr
0.71	NVDU	Direxion Daily NVDA	Pair Corr
0.82	NVDY	Tidal Trust II	Pair Corr
0.63	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.79	CSCO	Cisco Systems	Pair Corr
0.69	AA	Alcoa Corp Sell-off Trend	Pair Corr
0.64	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.66	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr

Moving against KraneShares Etf

0.65	PCY	Invesco Emerging Markets	Pair Corr
0.65	JPMB	JPMorgan USD Emerging	Pair Corr
0.58	EMHC	SPDR Bloomberg Barclays	Pair Corr
0.56	CEMB	iShares JP Morgan	Pair Corr
0.44	EMBD	Global X Emerging	Pair Corr
0.41	WTID	UBS ETRACS	Pair Corr
0.72	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.61	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.61	PFE	Pfizer Inc Buyout Trend	Pair Corr
0.52	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.39	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.56	-0.43	-0.25	0.54	0.31	0.65	0.42	-0.36	-0.28	META
MSFT	0.56		-0.57	-0.08	0.46	0.14	0.39	0.26	0.02	-0.8	MSFT
UBER	-0.43	-0.57		0.16	-0.72	0.1	-0.66	-0.5	0.43	0.52	UBER
F	-0.25	-0.08	0.16		0.14	-0.46	0.19	0.45	-0.27	0.3	F
T	0.54	0.46	-0.72	0.14		-0.3	0.89	0.85	-0.71	-0.34	T
A	0.31	0.14	0.1	-0.46	-0.3		-0.26	-0.47	0.57	-0.02	A
CRM	0.65	0.39	-0.66	0.19	0.89	-0.26		0.9	-0.82	-0.19	CRM
JPM	0.42	0.26	-0.5	0.45	0.85	-0.47	0.9		-0.85	-0.1	JPM
MRK	-0.36	0.02	0.43	-0.27	-0.71	0.57	-0.82	-0.85		-0.1	MRK
XOM	-0.28	-0.8	0.52	0.3	-0.34	-0.02	-0.19	-0.1	-0.1		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

JPM	+ 0.9	CRM
CRM	+ 0.89	T
JPM	+ 0.85	T
CRM	+ 0.65	META
MRK	+ 0.57	A
MSFT	+ 0.56	META

High negative correlations

MRK	- 0.85	JPM
MRK	- 0.82	CRM
XOM	- 0.8	MSFT
T	- 0.72	UBER
MRK	- 0.71	T
CRM	- 0.66	UBER

KraneShares Asia Competition Risk-Adjusted Indicators

There is a big difference between KraneShares Etf performing well and KraneShares Asia ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze KraneShares Asia's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.15	0.20	0.12	0.49	1.26	(1.30)	3.22	(1.87)	8.02
MSFT	0.85	0.05	0.01	0.15	1.45	(0.81)	1.83	(1.57)	8.14
UBER	1.75	(0.27)	0.00	(0.92)	0.00	0.00	2.67	(5.35)	20.41
F	1.41	(0.08)	0.00	(0.37)	0.00	0.00	2.53	(2.90)	11.21
T	1.02	0.08	0.03	0.36	1.18	(1.10)	2.36	(1.99)	6.74
A	1.22	0.00	(0.03)	0.04	1.47	(1.32)	2.71	(2.41)	9.02
CRM	1.50	0.41	0.28	0.34	1.11	(1.75)	3.59	(1.93)	13.87
JPM	1.00	0.27	0.17	(1.00)	0.90	(1.19)	1.73	(1.42)	15.87
MRK	0.92	(0.25)	0.00	(1.41)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.91	(0.07)	0.00	(0.20)	0.00	0.00	1.83	(2.14)	6.06

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